I found after the September 11 attacks, the media reports focused on the negative impacts this would have on Guyana’s economy.

However, there are some positives that can emanate out of all this.
Since many Guyanese living in New York would be out of jobs, they would not be able to finance their families in Guyana as before. Although this may seem negative in one way, there is also a positive. The situation will force Guyanese to be more independent, and have a more independent attitude towards development. Many Guyanese at home would also be forced to work harder to make a living. This would increase their productivity as an individual and in the long run it would benefit the economy as a whole. Thus, Guyanese would learn to be more independent and develop a more positive attitude towards national development.

Many of the imported goods and products coming into Guyana would be expensive, due to higher cost and reduced economic activity; it would force Guyanese to support the local market products. This is because the products and goods produced here may be cheaper. Hence this would support the `buy local’ campaign in Guyana.

The tourism industry in Guyana would not be affected that much. However, other Caribbean countries would be affected more. Evidence from the World Bank has shown that tourism was hit exceptionally hard with some 65% of the holidays booked for the Caribbean been cancelled. However, in the case of Guyana’s tourism industry, emphasis is not made on sight seeing, and beaches. Guyana’s tourism industry is based on Eco-tourism and Guyanese returning home on holidays.

Although there has not been a lot of foreign investment in Guyana lately, there is still scope for internal and also external investors. Government can offer incentives to local investors to invest in various interest areas even if there is a shortage of foreign investors. With local investors investing there is going to be more job creation and also production would increase from the nation’s point of view. Since our nation is one that has many races, many religions, free from terrorists and free from natural disasters it should not be difficult to get Foreign Direct Investment (FDI), if our country is marketed properly.

The oil prices in Guyana have dropped due to the global recession and the war the USA is currently facing. The USA consumes 1/3 of the world crude oil. However because of the present circumstances the USA has not been utilizing all of its oil. Thus this has had a positive effect on Guyana’s economy, due to cheaper oil prices.

The direction our nation takes depends on our leaders, politicians, and our citizens as

a whole. If everyone does not work together in the development process of our nation, then our nation will never go forward. There is always room for improvement by any economy, however there must be good planning, policies, leaders in place, and it must be a cooperative effort by everyone.
JAGNANDAN